GCK On Law
Subchapter V Confirmation: Fair and Equitable Cramdown under Section 1191(b)
Subchapter V of the Bankruptcy Code allows a debtor to confirm a “consensual” Subchapter V plan if the requirements of Section 1129(a), other than subparagraph 15, are met. However, the debtor may seek a “non-consensual” cramdown of a Subchapter V plan under Section...
Circuit Review of Third-Party Injunctions & Releases Under Sections 105(a) and 524(e)
Courts that permit third-party releases often rely on Sections 1129(a)(1), 1123(b)(6) and 105 of the Bankruptcy Code. In re Millennium Lab Holdings II, LLC, 2018 WL 4521941, at *20 (D.Del. Sept. 21, 2018). However, the issue of whether bankruptcy courts have the...
Can a Debtor Voluntarily Dismiss a Chapter 13 Case After a Motion to Convert has Been Filed?
Section 1307(b) of the Bankruptcy Code provides that “[o]n request of the debtor at anytime, if the case has not been converted under Sections 706, 1112, or 1208 of this title, the court shall dismiss a case under this chapter. Any waiver of the right to dismiss...
Restrictions on Amending Schedules Upon Reopening Case
Rule 1009(a) of the Federal Rules of Bankruptcy Procedure provides that schedules “may be amended by the debtor as a matter of course at any time before the case is closed.” This facially simple provision, however, has led to a, a split among the courts as to whether...
Courts Divided on Abandonment of Assets not Disclosed on Schedule A/B
Section 554(a) of the Bankruptcy Code permits the trustee to abandon estate property upon a showing that it is either burdensome or of inconsequential value and benefit to the bankruptcy estate. Abandonment can also occur under Section 554(c) if property of the...